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Sonal Adhesives Ltd (526901)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526901 NSE: Plastic Products | Small Cap | Sonal Adhesives Share Price

₹47.47 7.91 (19.99%)

As on 04-Jun'26 16:59

Sonal Adhesives Ltd (526901)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526901 NSE: Plastic Products | Small Cap | Sonal Adhesives Share Price

₹47.47 7.91 (19.99%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹29 Cr.
Current Price
₹47.5
52-Week Low / High
₹30 / 67
TTM EPS
₹2.3
TTM Sales
₹126 Cr.
Book Value per Share
₹17.1
P/E Ratio
21.00
Higher than its 5-year historical median
Industry PE
39
Price to Book (P/B)
2.78
Lower than its 5-year historical median
Price to Sales (P/S)
0.23
Lower than its 5-year historical median
EV/EBITDA
10.38
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
21.82%
Outperforms industry median
Return on Capital Employed (ROCE)
22.14%
Outperforms industry median
Return on Assets (ROA)
4.81%
Operating Profit Margin
2.8%
Net Profit Margin
1.6%
Gross Profit Margin
2.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
9.55%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
8.71%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
-4.86%
Asset Quality
Promoter Holding
62.71%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹4 Cr.
Equity
₹6.1 Cr.
Face Value
₹10
All Time Low / High
₹1.00 / 170.55

Sonal Adhesives stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Sonal Adhesives Ltd a good quality company?
Sonal Adhesives Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Sonal Adhesives Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Sonal Adhesives Ltd vs industry peers?
Sonal Adhesives Ltd revenue CAGR is 27.95%, compared to the industry median CAGR of 4.71%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Sonal Adhesives Ltd?
Promoters hold 62.71% of the Sonal Adhesives Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Sonal Adhesives Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 11.5% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Sonal Adhesives Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -11.1%-16.9%-15.5%-5.7%-9.1%-4.5%63.7%40.4%25.2%22.1%-
Value Creation
Index
-1.8-2.2-2.1NANANA3.61.90.80.6-

Growth Parameters

Sales 24.427.243.737.432.21758.783.3101110126
Sales YoY Gr.-11.3%60.6%-14.4%-14%-47.3%245.8%42.1%20.8%9.6%-
Adj EPS -4.9-4.8-6.6-2.2-4-1.39.23.62.72.42.3
YoY Gr.-NANANANANANA-60.6%-25.1%-13.2%-
BVPS (₹) 11.66.50.3-1.4-4.5-5.85.18.811.914.817.1
Adj Net
Profit
-3-2.9-4-1.3-2.4-0.85.62.21.71.41
Cash Flow from Ops. 2.10.20.7-3.8-1.33.618.8-1.1-0.56.9-
Debt/CF from Ops. 9.798.331.2-6.4-19.96.20.1-4.8-13.81.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 18.2%28%23.4%9.6%
Adj EPS NANA-36.5%-13.2%
BVPS2.7%NA42.8%24.3%
Share Price 13.5% 45.7% -13% -9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-35.4-52.8-192.8398.213425-2462.652.226.217.714.2
Op. Profit
Mgn %
-14-12.5-7-2.6-6.6-3.80.93.72.92.82.3
Net Profit
Mgn %
-12.1-10.7-9.1-3.6-7.4-4.69.52.61.61.31.1
Debt to
Equity
2.95.2118.9-28.7-9.7-6.30.8111.10.6
Working Cap
Days
44332818121326247413299959247
Cash Conv.
Cycle
2571546863628710620262

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales24.4427.1943.6637.3832.1516.9658.6583.32100.65110.26
Operating Expenses + 27.8630.8846.7338.3734.2817.8158.2180.2897.78107.14
Manufacturing Costs3.363.344.814.773.962.514.597.859.638.94
Material Costs22.9725.4939.3032.2228.9414.1752.1470.2584.6193.86
Employee Cost 0.460.540.430.430.390.380.320.360.390.52
Other Costs 1.071.512.190.960.990.751.171.813.143.83
Operating Profit -3.42-3.69-3.07-1-2.13-0.850.443.052.873.12
Operating Profit Margin (%) -14.0%-13.6%-7.0%-2.7%-6.6%-5.0%0.8%3.7%2.9%2.8%
Other Income + 0.720.050.360.500.740.597.960.800.991.34
Exceptional Items 0000000000
Interest 0.260.010.010.150.3900.010.200.671.29
Depreciation 0.750.760.760.750.750.690.670.630.700.74
Profit Before Tax -3.70-4.42-3.48-1.39-2.54-0.957.723.022.492.43
Tax -1.07-1.300.30-0.37-0.66-0.122.110.760.640.66
Profit After Tax -2.63-3.11-3.78-1.02-1.88-0.825.612.271.851.76
PAT Margin (%) -10.8%-11.5%-8.7%-2.7%-5.8%-4.9%9.6%2.7%1.8%1.6%
Adjusted EPS (₹)-4.4-5.1-6.2-1.7-3.1-1.49.33.73.12.9
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Sonal Adhesives - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 7.043.950.17-0.84-2.73-3.533.085.357.218.97
Share Capital 6.066.066.066.066.066.066.066.066.066.06
Reserves 0.98-2.11-5.89-6.90-8.79-9.59-2.98-0.711.152.91
Debt +20.4020.4520.1524.0726.3422.402.275.146.858.66
Long Term Debt0.050.030.050.01000.150.341.062.39
Short Term Debt20.3620.4220.1024.0726.3422.402.124.805.796.27
Minority Interest0000000000
Trade Payables7.227.236.436.695.485.1316.3612.8215.4113.48
Others Liabilities 1.45-0.21-0.46-0.18-1.362.822.686.123.649.23
Total Liabilities 36.1231.4226.2929.7427.7226.8224.4029.4333.1240.34

Fixed Assets

Net Fixed Assets +6.656.195.604.904.894.213.813.864.6212.74
Gross Block10.2410.5410.7110.7111.4611.4711.7512.4213.8822.74
Accumulated Depreciation3.594.355.115.826.577.267.938.569.2610
CWIP 000.240.24000000
Investments 0000000000
Inventories5.642.774.092.851.371.2311.4113.1311.1512.92
Trade Receivables17.7613.538.919.788.537.362.686.2810.0711.43
Cash Equivalents 0.860.820.730.640.630.690.051.010.440.01
Others Assets 5.218.116.7311.3312.3013.336.455.166.853.25
Total Assets 36.1231.4226.2929.7427.7226.8224.4029.4333.1240.34

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 2.110.210.65-3.79-1.333.6318.76-1.09-0.536.90
PBT -3.70-4.42-3.48-1.39-2.54-0.957.723.022.492.43
Adjustment 0.610.750.750.881.140.310.680.821.361.99
Changes in Working Capital 5.2143.39-3.280.074.2710.36-4.92-4.333.22
Tax Paid 0-0.12-000-0-0-0.01-0.05-0.73
Cash Flow From Investing Activity + 0.08-0.28-0.330.02-0.450.371.37-1.67-1.16-9.06
Capex 0.08-0.31-0.41-0.04-0.51-0.01-0.28-0.67-1.47-8.86
Net Investments 00.010.050.050.05-00.64-1.010.30-0.24
Others 00.020.030.0100.391.010.010.010.04
Cash Flow From Financing Activity + -3.80-0.05-0.093.731.82-3.94-20.132.721.411.49
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -1.34-0.020.02-0.04-0.0100.150.190.721.33
Interest Paid -0.14-0.01-0.01-0.15-0.39-0-0.01-0.20-0.67-1.29
Dividend Paid 00-0.05-0.05-0.0500000
Others -2.32-0.03-0.063.962.27-3.94-20.272.731.361.46
Net Cash Flow -1.60-0.120.22-0.040.040.06-0-0.05-0.27-0.67

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-31.53-56.7-183.6N/AN/AN/A053.7329.5221.82
ROCE (%)-11.11-16.94-15.45N/AN/AN/A63.7340.3525.1722.14
Asset Turnover Ratio0.650.871.541.331.120.622.293.13.223
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/A3.34-0.48-0.293.92
Working Capital Days
Receivable Days257.30193.5092.1091.30104170.8031.2019.6029.6035.50
Inventory Days118.605228.1033.9023.902839.3053.704439.80
Payable Days118.30103.5063.5074.3076.70136.7075.2075.8060.9056.20

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Sonal Adhesives Ltd FAQs

The current trading price of Sonal Adhesives on 04-Jun-2026 16:59 is ₹47.47.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Sonal Adhesives stood at ₹28.77 Cr

The latest P/E ratio of Sonal Adhesives as of 03-Jun-2026 is 21.00.

The latest P/B ratio of Sonal Adhesives as of 03-Jun-2026 is 2.78.

The 52-week high of Sonal Adhesives is ₹66.80 and the 52-week low is ₹30.40.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sonal Adhesives is ₹126 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Sonal Adhesives Ltd is a average quality company.

The key valuation ratios of Sonal Adhesives Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Sonal Adhesives Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Sonal Adhesives Ltd

Sonal Adhesives, established in 1991 is a leading manufacturer in India specializing in the manufacture of synthetic (plastic) ropes and OPP self adhesive tapes. With three factories and subsidiary companies, the company has about 12 years’ experience in the production of plastic ropes, OPP Self Adhesive Tapes and Acrylic adhesives. State of the art equipment and a well committed team of qualified personnel contribute to the high quality of their products. Their 'SONAL' brand is well known in India. Their sister concern, Sonal Impex Limited is a Government of India recognized Export House since 1980. More than 80% of their products are exported to the Middle East, United Kingdom, USA, Gulf and Africa. They are well accepted for excellent quality as well as the competitive price.

It is one of the largest manufacturers of the Self Adhesive Tapes in India, using the latest machines and technology with installed capacity of 5 million square meters. There are two manufacturing units, one situated in Khopoli and the other at Silvassa. The quality is internationally accepted as 50% of the goods are exported to countries like UK, USA, UAE and Australia under the brand name SONAL. In India the marketing is looked after by seven branch offices and a wide dealer network 

Sonal Adhesive Tapes are manufactured from BOPP (Biaxially Oriented Polypropylene) film coated with water based acrylic adhesive. The water based acrylic is the latest advancement in adhesive technology.

  • Products manufactured by the company:

  • Ropes
  • Twine
  • Self adhesive tapes
  • Adhesive
  • Rope articles
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About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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